With the unraveling of the month of November 2008, here is the Greater Edmonton MLS Statistics:
- The average price of a single family residence still hovering at the $362,000 range
- Condos are still continuing to slide to an average price of $231,531 (at the height of the market back in June 2007 it was at $266,100 - about a $35,000 difference or a 12.9% Drop)
- Overall the Average residential Sales price (includes all types of property) was up a quarter of a percent
- Listing Inventory was down 510 units to 8015 Units in the local MLS inventory
Is it a great time to buy? YES!! But the Mortgage Providers have tightened up incredibly! You may want to buy, but there may be many hurdles. Talk to us about getting that mortgage, we can help.